Reshape Lifesciences Inc (NASDAQ:RSLS) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,967,219 shares, an increase of 69.7% from the September 28th total of 1,159,023 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily volume of 7,670,597 shares, the days-to-cover ratio is presently 0.3 days.

NASDAQ:RSLS opened at $0.03 on Monday. Reshape Lifesciences has a 52-week low of $0.02 and a 52-week high of $31.50.

Reshape Lifesciences (NASDAQ:RSLS) last announced its earnings results on Tuesday, August 14th. The medical device company reported ($4.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.79) by ($3.01). The business had revenue of $0.65 million during the quarter. Reshape Lifesciences had a negative return on equity of 70.96% and a negative net margin of 2,397.35%. Sell-side analysts anticipate that Reshape Lifesciences will post -2.64 earnings per share for the current year.

RSLS has been the topic of a number of analyst reports. Zacks Investment Research upgraded Reshape Lifesciences from a “hold” rating to a “buy” rating and set a $0.25 price objective on the stock in a research note on Thursday, August 9th. ValuEngine upgraded Reshape Lifesciences from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, LADENBURG THALM/SH SH lowered Reshape Lifesciences from a “buy” rating to a “neutral” rating in a research note on Friday, August 3rd.

About Reshape Lifesciences

ReShape Lifesciences Inc, a medical device company, focuses on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases, and other gastrointestinal disorders. Its proprietary neuroblocking technology, vBloc Therapy is designed to intermittently block the vagus nerve using electrical impulses.

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